According to the Zhitongcaijing APP, container manufacturers have risen again. As of the time of publication, Singamas Cont (00716) rose 3.26% to HKD 0.95; COSCO Shipping Development (02866) rose 4.63% to HKD 1.13; China International Marine Containers (02039) rose 2.93% to HKD 7.03.

Guotou Securities pointed out that affected by detours of container ships and port efficiency, container turnover efficiency has declined, empty container return has slowed down, and there have been shortages of containers in some ports, increasing the demand for containers. With the concentrated delivery of container ships in 2024, the demand for additional capacity and container allocation will increase, and the demand for updating the inventory of containers will be reflected. It is expected that after experiencing the production trough in 2023, both the manufacturing and leasing of containers will see a rise in prices and demand in 2024.

Anxin International pointed out that based on China's historical annual production data, the container industry has roughly shown a 5-6 year cycle, with demand fluctuating with the global economic cycle. Due to the pandemic in 2021, the turnover efficiency of container ports in Europe and the United States declined, which stimulated demand for containers and production reached a new high. However, production fell back in 2022-2023 due to demand being overdrawn. Looking at single quarters, production in Q1 2023 increased compared to the previous quarter, and demand gradually improved. Production in Q1 2024 increased by 18% compared to the previous quarter. The first half of 2023 may be the bottom of this cycle.